Information management and storage powerhouse EMC said it will acquire RSA Security for an aggregate cost of just under $2.1 billion. The acquisition will bring EMC new capabilities in identity and access management solutions as well as encryption and key management software.
"Information security is a top priority among executives around the world, and it has become an inseparable attribute of information management. Businesses can't secure what they don't manage, and when it comes to securing information, that means simply two things: managing the data and managing access to the data," said Joe Tucci, EMC chairman, president and CEO.
Completion of the acquisition is expected to take place late in the third quarter or early in the fourth quarter of 2006 where RSA will then become the Information Security Division at EMC. The division will have its headquarters in Bedford, Massachusetts, and Art Coviello, current president and CEO at RSA, will become an executive vice president of EMC and president of the new information security division